Uniting Wealth Partners LLC Makes New Investment in McKesson Co. (NYSE:MCK)

Uniting Wealth Partners LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 673 shares of the company’s stock, valued at approximately $384,000.

A number of other hedge funds have also modified their holdings of MCK. Motley Fool Asset Management LLC increased its holdings in McKesson by 13.5% in the fourth quarter. Motley Fool Asset Management LLC now owns 6,698 shares of the company’s stock worth $3,817,000 after buying an additional 797 shares during the last quarter. World Investment Advisors boosted its stake in shares of McKesson by 5.6% during the 4th quarter. World Investment Advisors now owns 4,762 shares of the company’s stock worth $2,714,000 after acquiring an additional 253 shares in the last quarter. Westpac Banking Corp raised its stake in shares of McKesson by 23.4% in the 4th quarter. Westpac Banking Corp now owns 12,990 shares of the company’s stock valued at $7,403,000 after acquiring an additional 2,461 shares in the last quarter. OneAscent Financial Services LLC raised its position in shares of McKesson by 53.4% in the fourth quarter. OneAscent Financial Services LLC now owns 1,054 shares of the company’s stock valued at $601,000 after purchasing an additional 367 shares during the period. Finally, Huntington National Bank boosted its holdings in shares of McKesson by 2.1% during the 4th quarter. Huntington National Bank now owns 6,364 shares of the company’s stock worth $3,627,000 after buying an additional 128 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock worth $10,855,706 in the last three months. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of recent analyst reports. Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Citigroup dropped their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Morgan Stanley upped their price target on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $656.71.

McKesson Price Performance

MCK stock opened at $694.12 on Thursday. The stock has a market capitalization of $86.99 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 1.29 and a beta of 0.52. The business has a fifty day moving average price of $629.16 and a 200 day moving average price of $582.85. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $695.46.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.